UK Economy To Grow But Only Just
Published / Last Updated on 02/05/2012
UK Economy To Grow But Only Just.
According to the CBI business group, the UK economy will return to growth in the second half of 2012, with faster growth expected next year.
However, as a direct consequence of data from the Office for National Statistics showing the economy shrank by 0.3% in the first quarter and returned to recession, the CBI has cut its growth forecast for the whole of 2012 from 0.9% to 0.6%.
The CBI is expecting flat growth in the second quarter of 2012 and for the third and fourth quarters it predicts growth of 0.7% and 0.5% respectively. It expects growth to pick up to 2% in 2013.